REG - CMO Group PLC - Directorate Changes

CMOAnnouncement

08/02/2024 07:15

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RNS Number : 3931C  CMO Group PLC  08 February 2024

CMO Group Plc

("CMO" or the "Company")

Directorate Changes

The Board of CMO Group Plc, the UK's largest online-only retailer of building
materials, is pleased to announce the promotion of Callum Tasker to Chief
Commercial Officer of CMO and his appointment to the Board with immediate
effect.  At the same time Mike Fell, Co-Founder of Key Capital Partners ("Key
Capital"), the Company's largest shareholder, will replace James Excell as Key
Capital's representative on the Board.

Callum has approaching 20 years' experience in the industry, joining CMO in
2010, shortly after its inception, and has successfully carried out various
significant roles within the Company.  He was Sales and Logistics manager for
five years between 2010 and 2015. He was then promoted to Operations Director
in 2015 and became Commercial Director in 2019.  Prior to joining CMO he
spent five years with SIG plc.

After nearly 40 years in industry and five years with the Company, Sue Packer,
Chief Operating Officer, is retiring at the end of March and will step down
from the Board today.

Mike Fell co-founded private equity firm Key Capital 17 years ago, and was
part of the original team that invested in CMO. He holds a number of other
directorships of investee companies which will bring wide experience to CMO.

The Board wishes to express deep gratitude to Sue and James for their
contribution to the Company. In Sue's case, particularly her part in driving
and delivering upon the Company's growth strategy and in James's for his
advice and counsel. We wish Sue a well-deserved, long and happy retirement.

Dean Murray, CEO of CMO Group said:

"We are delighted that Callum is taking the Chief Commercial Officer post and
is joining the Board. The Board will benefit from his industry experience and
long-term knowledge of CMO. He has a passion for detail and driving profitable
growth.

 

Sue has been an instrumental part of the team that has made CMO into the
Company it is today. I, personally, will miss her knowledge and experience,
but also wish her the happiest of retirements. We could not have a better
replacement for Sue in Callum who has worked with and alongside her for the
past five years. This will provide a seamless succession.

 

We are also delighted that Mike is joining the Board. We will benefit from his
broad  experience and counsel, and many thanks to James who has provided
invaluable support and advice in his role as non-executive director."

 

8 February 2024

 

Regulatory

The following information is disclosed under Rule 17 of the AIM Rules for
Companies ("AIM Rules") and Schedule Two Paragraph (g) of the AIM Rules:

Callum James Tasker, aged 34, is or has been a director of the following
companies in the past five years:

 Current Directorships     Past Directorships (within the last five years)
 CMO Stores Group limited  N/A
 CMO Stores.com limited

 

Mr Tasker holds 2,057,501 ordinary shares in the Company. In addition, he has
an interest in the Company via the LTIP, through which he has a total of
202,273 ordinary shares under option. The performance criteria for the LTIP,
which comprises a share price target and an EBITDA target, has not yet been
satisfied.

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g) of the AIM Rules for Companies in respect
of Callum Tasker.

Michael William Fell, aged 66, is or has been a director of the following
companies in the past five years:

 Current Directorships                         Past Directorships (within the last five years)
 Key Capital Partners LLP                      Key Capital Partners (Carried interest) LLP

 Key Capital Partners (Carried Int.) IX LLP    Key Capital Partners (Investments) LLP
 Key Capital Partners (Investments) IX LLP     CMOStores Group Limited
 Key Capital Partners (Investments) VIII LLP   CMOStores.com Limited
 Key Capital Partners (Carried Int.) VIII LLP  Routes Healthcare (North) Limited
 Key Capital Partners (Nominees) Limited       WHCO1 Limited
 Key Capital Partners (General Partner) LLP    Dwell Retail Holdings Limited
 WHCO3 LIMITED                                 Arthur Rank Hospice (Charity)

 

Mr Fell was appointed director of household goods and furniture retailer Dwell
Retail Limited in 2012 ("Dwell"). Following a period of poor trading, the
directors of Dwell appointed administrators in 2013 and the company was
subsequently dissolved in March 2015 with deficiencies to creditors of
approximately £16.6 million. Mr Fell was a director of Sabotage Limited, a
retailer of T shirts and associated products, when administrators were
appointed in February 2012 as a result of poor trading. Liquidation
proceedings remain ongoing. Mr Fell ceased to be a director in June 2012.

Mr Fell holds 189,394 ordinary shares in the Company. Mr Fell is also a
partner of Key Capital Partners LLP, one of whose funds, KCP VIII L.P., is
interested in 19,285,042 ordinary shares in the Company.

There is no further information which is required to be disclosed under
Schedule Two, paragraph (g) of the AIM Rules for Companies in respect of Mike
Fell.

 

 Enquiries:

 CMO Group PLC                                              Via Instinctif
 Dean Murray, CEO
 Jonathan Lamb, CFO
                                                            Tel: +44 20 3100 2000

 Liberum Capital Limited (Nominated Adviser & Broker)
 Andrew Godber
 Lauren Kettle

 Satbir Kler

 Instinctif Partners
 Justine Warren                                             Tel: +44 20 7457 2010
 Matthew Smallwood                                          Tel: +44 20 7457 2005
 Joe Quinlan                                                Tel: +44 20 7866 7856

 

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